Summary
Many people took undue advantage of this visa to gain residency and business rights in the UK after earning money in their country illegally, mostly beneficiary Russians coming from Russia.
The British government has announced the end of the golden visa system that allows residence and business in the UK for an investment of 2 million pounds (Rs 20.32 crore). Britain has argued behind its abolition that through this the possibility of corrupt rich people reaching Britain is increasing.
The UK Home Ministry said that the Tier-1 investor visa regime (Golden Visa) has raised several security concerns. Many people have taken undue advantage of this visa to gain residency and business rights in the UK after earning money in their country illegally, most of the beneficiary Russians coming from Russia. People getting this visa are also allowed to keep their family with them in the UK. This system has been in place since 2008.
Most of the beneficiary Russian
Most of the people who take advantage of this visa system are from Russia. Critics of this arrangement have long questioned what guarantees there are no Russian government agents. However, Home Minister Priti Patel has said that the government’s move is to curb illegal finance, so that the people of Britain remain confident in the system.
Expansion
The British government has announced the end of the golden visa system that allows residence and business in the UK for an investment of 2 million pounds (Rs 20.32 crore). Britain has argued behind its abolition that through this the possibility of corrupt rich people reaching Britain is increasing.
The UK Home Ministry said that the Tier-1 investor visa regime (Golden Visa) has raised several security concerns. Many people have taken undue advantage of this visa to gain residency and business rights in the UK after earning money in their country illegally, most of the beneficiary Russians coming from Russia. People getting this visa are also allowed to keep their family with them in the UK. This system has been in place since 2008.
Most of the beneficiary Russian
Most of the people who take advantage of this visa system are from Russia. Critics of this arrangement have long questioned what guarantees there are no Russian government agents. However, Home Minister Priti Patel has said that the government’s move is to curb illegal finance, so that the people of Britain remain confident in the system.